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JinkoSolar, Daqo Add To Global Solar Gloom

Date:15-Nov-11Author: Vaishnavi Bala

JinkoSolar Holding Co and Daqo New Energy Corp followed peers in giving weak shipment outlook, as the solar sector struggles with weak demand and declining selling prices after subsidy cuts in Europe.

JinkoSolar shares, which have shed almost two-thirds of their value this year, were trading down 13 percent at $6.89 on Monday morning on the New York Stock Exchange. Daqo shares fell 4 percent to $2.71.

Companies like Yingli Green Energy and ReneSola Ltd had cut their shipment and profit margin forecasts last week.